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Even as financials tank yet again, techs are coming back, as evidenced by AAPL, IBM and GOOG. This daily Guppy chart of the Money Center Banks   Index shows that all of the short term averages (red) are below the declining longer term averages (blue), in an ominous BWR pattern.

I remain mainly in cash, but own some QLD, given the QQQ short term up-trend.

Still mainly in cash with a few longs.   I am watching a possible head and shoulders top formation in the QQQ weekly chart. I will exit all if the QQQ closes back below 10 week average (blue dotted line). Click on weekly chart to enlarge.